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MEME ME!
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A “MEME” stock isn’t as easily defined as a growth or value stock, so to give it a definitive categorization would be inappropriate. Nor would actually categorizing it alongside growth and value stocks. They won’t be found in textbooks anytime soon, but to overlook their impact could potentially be an expensive oversight.
CITE: https://www.r2library.com/Resource/Title/0826102549
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Filed under: Career Development, CMP Program, Glossary Terms, Investing, Research & Development, Touring with Marcinko | Tagged: certified medical planner, CMP, david marcinko, MEME stocks |
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MEMEs
https://www.marketwatch.com/story/warm-august-for-meme-stocks-turns-red-hot-robinhood-included-11629901455?mod=home-page
Mark
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GameStop MEME
In a long-awaited report on the meme stock trading frenzy this winter, the SEC concluded that the entire episode showed that US financial markets generally work as they’re supposed to.
Quick recap: Shares in the struggling video game retailer GameStop erupted 2,700% in value from January 8 to January 28, a rally that appeared to begin as a coordinated effort by individual investors to fleece hedge funds who were shorting the stock.
So what did the SEC find?
That “short squeeze” wasn’t a big factor in the rally. The SEC said that investors trying to profit from short-sellers’ collapse was a “small fraction of overall buy volume,” and they attributed the majority of GameStop’s skyrocketing share price to “positive sentiment.”
No proof Robinhood did anything shady. Robinhood halted trading for certain meme stocks at the height of the frenzy, citing liquidity issues. While conspiracies swirled that it did so for nefarious reasons, the SEC couldn’t find any evidence to support that rumor.
Looking ahead…the SEC said it’ll use the GameStop saga as an “opportunity to reflect” on the ways financial markets function, but other than that—keep calm and trade on, folks!
Hart
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